Supermarkets slash private label prices to drive sales

 In Australia, Coles, NewZealand, Woolworths
Coles and Woolworths have both slashed private-label prices to drive sales and convert more shoppers to their home-brand products.
Woolworths took the scalpel to its premium private-label range in the three months to the end of September, said Deutsche Bank research, slicing 9 per cent off prices which Coles cut by 7 per cent in the same period.
The cuts compare with some big increases in the price of branded groceries for shoppers, including a 5.7 per cent jump in the price of these big name favourites at Coles. By comparison, the cost of branded groceries at Woolworths slipped by 0.8 per cent.
Deutsche Bank analyst Michael Simotas said the difference between the price of branded groceries at Coles and Woolworths suggested the Wesfarmers-owned Coles "had not responded aggressively" to Woolworths price cuts.  Sydney Morning Herald – Read more…

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